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BYD Co., Ltd. (OTC:BYDDY) (OTC:BYDDF) has reportedly intensified its move into luxury SUVs and off-roaders, unveiling two new models to compete against Jaguar Land Rover Automotive Plc.
China’s largest automaker debuted the Super 3 and Bao 8 SUVs at its Shenzhen headquarters in a glamorous live-streamed event, Bloomberg reported.
The automaker didn’t clarify whether the new SUVs are hybrid or fully electric vehicles. Additionally, alongside the two new models, they showcased the Super 9, a conceptual high-performance racing car, Bloomberg added.
The unveiling marks the beginning of a series of launches leading up to the Beijing Auto Show, scheduled from April 25 to May 4, asserting its status as China’s premier automotive event, the report read.
While BYD is well-known for its budget EVs like the Seagull hatchback, priced at 69,800 yuan (under $10,000), it’s now venturing into the high-end luxury segment.
Recently, it introduced its priciest car, the 1.68 million yuan ($232,120) Yangwang U9 high-performance electric supercar, aimed at competing with Ferrari N.V. (NYSE:RACE) and Lamborghini, Bloomberg stated.
Price Action: BYDDY shares are trading lower by 0.15% to $51.89 on the last check Tuesday.
Image via Shutterstock
